Alphabiz - KB Kookmin Bank Reports KRW 1.75 Billion Fraudulent Loan Incident at Cambodian Subsidiary

KB Kookmin Bank. (Photo = KB Kookmin Bank)

[Alpha Biz= Paul Lee] KB Kookmin Bank announced on December 4 that a fraudulent loan case worth KRW 1.75 billion occurred at its Cambodian subsidiary. According to the bank, a locally hired employee approved unauthorized loans, constituting breach of duty and embezzlement.

The misconduct was identified during a routine audit following an internal whistleblower report. The bank is conducting further checks to verify the authenticity of the loan documents involved.

KB Kookmin Bank has dismissed the employee and filed a criminal complaint. A bank representative stated, “We are taking swift measures to preserve the loan assets and minimize potential losses.”

Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)